Alliance Grain Traders, a Regina income fund that owns pulse processing operations in three countries, has inked a deal to buy another fellow processor close to home.
Tradewind Commodities, which AGT describes as a “leading pulse and special crops processor” at Milestone, Sask., about 60 km due south of Regina, has signed a memorandum of understanding to sell all its assets to AGT for an as-yet undisclosed cash sum.
“This acquisition bolsters the fund’s processing capacity on the Regina
Plains and allows us to capitalize on excellent rail service with Canadian
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“Tradewind is a strategic asset that will solidify our
bulk processing and freight capacity and allow us to have strong linkages
north to south into the U.S. and Mexico.”
The deal, which AGT said was “negotiated at arm’s length,” is expected to close on Aug. 1. Terms of the deal won’t be disclosed until the formal acquisition agreements are signed.
AGT last week announced it had wrapped up a private placement of 970,000 units in the income fund at $15.50 per unit, for a gross of $15 million, the net from which is to be used for “acquisitions, working capital and general corporate purposes.”
The income trust, which in late 2007 changed its name from Agtech Income Fund, last month also signed a deal to buy Pulse Depot, another pulse processing company at Rosetown, Sask., about 100 km southwest of Saskatoon. That deal is also expected to close Aug. 1.
AGT’s other holdings in the pulse processing sector include SaskCan Pulse Trading at Regina, United Pulse Trading in North Dakota, and Australia Milling Group of Stepney, South Australia.
